Ann: Company Update, page-59

It is beyond ridiclous the hopefulness of some of the holders here on HC. Over the past 12 months this company has done nothing but lie to its holders, you cannot possibly name one good thing this company has done other than promise things that have yet to happen.

First it was the revenue that was coming from the diamonds...never came... then it was the CR that was meant to pay for the first batch....didnt even pay for the production of one satellite...then the most recent CR which was to help the "launch of the first batch of Pearls nano-satellites".. They then stated that this wouldn't even be enough as they needed to secure a bank loan to actually get them in the sky.

Now we have a complete change of business plan less than a month after a CR which raised capital on the idea that the Pearls were actually going up.. how deceitful and disrespectful can this company be to the people that give them there hard earned money?

My guess is that MM and Di resigned because they didn't want to be associated with a company that has so obviously lost its way, and as the only Australians on the board they knew they would be more open to possible legal action.

This company update bears an awful resemblance to the original announcements we used to get a few years ago that promised massive revenue, high demand etc...a simple way to try and pump the price.

- 16 of the Company's existing customers have expressed their intent to increase the value of their existing agreements with SAS
-U.S. debt funding for launch is progressing as planned
- More worthless MOU rubbish that doesn't mean anything until we have something in the sky.

There is absolutely nothing concrete yet and it's just pathetic how the same people can sit on HC and continue to see everything as all good.

Yes, perhaps there is something more to it and a big player has approached SAS but it is this constant hopefulness that has led many holders, including me to hold this stock from 5c to 29c back down to 3c, and it will probably be the hopefulness that makes them hold it all the way down to 0.

I still hold this stock, luckily for me I never committed a large % of my portfolio to it, and i hope everything works out but I just cant stand the foolishness on here of some holders who refuse to see the writing on the wall.